Developed nations are countries with advanced industrialization, high standards of living, and well-developed infrastructure compared to other countries.
Related terms
GDP per capita: Gross Domestic Product per capita measures the average economic output per person within a nation.
Human Development Index (HDI): HDI is an indicator that combines measurements of life expectancy, education level, and standard of living to rank countries' overall development.
Welfare State: A welfare state refers to government policies aimed at promoting social protection through programs such as healthcare, unemployment benefits, and public education.